Problem: Let $x$ be a value such that $8x^2 + 7x - 1 = 0$ and $24x^2+53x-7 = 0.$ What is the value of $x$? Express your answer as a simplified common fraction.
Explanation: We solve each equation separately. First off, we have $8x^2 + 7x - 1 = (8x-1)(x+1) = 0.$ We can also see that $24x^2+53x-7 = (8x-1)(3x+7) = 0.$ It is clear that both equations are satisfied only when $8x - 1 = 0,$ therefore $x = \boxed{\dfrac{1}{8}}.$